The capital gains tax in Spanish is called “Ganancias de Capital.” It was bound to happen! Well... it happened some years ago. Capital gains tax has been in effect since July 2019. What’s the rate? Well, the capital gains rate is fifteen percent (15%) of the gain. Being a home owner in Costa Rica, it is important for you to know how this tax can affect your personal tax situation.
Let us state right up front: we're not saying "don't build a home in Costa Rica". We're just showing you all the options, including the best way to build a custom home from scratch.
Most Buyers and Sellers in the coastal regions of Costa Rica are not native to the area so it seems like common sense that they would seek out advice from a seasoned and professional Agent. One that works in a well-established agency to guide them through the purchase or sale process of a property in a foreign county. I think we would all agree with that statement so far.
99. Costa Rica is 99% green. It is almost totally carbon free, and the most environmentally protective country in the world and most of it still looks like it did when the dinosaurs walked the earth. You have to love and respect somewhere, which places nature above money. This haven will blow you away.
There is no doubt the real estate market has been doing very well in the Papagayo area of Costa Rica and many of our agents have had record breaking years. What is even more impressive is the leadership that our agents have shown by not only being involved in their communities, but getting involved and giving back in a big way.
Well, it is time again for another boring Papagayo Area Real Estate Market Update.
Gone are the days when you had to get up early just to waste time being stuck in traffic on the way to work. Whether you drive your car or commute daily, traffic jams are inevitable, especially if you work in the city. Fortunately, more and more people are discovering that indeed, it is possible to work from home effectively. So, for anyone who's been dreaming of a flexible arrangement that allows them to prioritize their overall well-being while being productive with their duties, remote work is the way to go!
Costa Rica consistently ranks as one of the safest countries in Latin America. Its long-standing democracy, strong institutions, and lack of a standing army contribute to a relatively stable social and political environment. Many residents—both locals and expats—describe life here as "tranquilo" (pronounced "tran-key-low"), or peaceful, and it's one of the key reasons why Costa Rica remains a popular destination for retirees, remote workers, and families alike.
